Monsanto Acquires Brazilian Sugarcane Companies
December 5, 2008| |
Monsanto Company announced that it has completed the US $290 million acquisition of Aly Participacoes Ltda., which it undertook in a bid to tap the growing demand for raw sugar and biofuels. Aly Participacoes Ltda. operates the sugarcane breeding and technology companies CanaVialis S.A. and Alellyx S.A., both of which are based in Brazil. Monsanto has previously established a licensing and trait-collaboration agreement with these companies to develop and commercialize Roundup Ready and Bt insect-protected technologies for sugarcane growers in the country.
CanaVialis is the world's largest private sugarcane breeding company. Alellyx, on the other hand, is an applied genomics company that focuses on developing biotech traits primarily for sugarcane.
Read the press release at http://monsanto.mediaroom.com/index.php?s=43&item=664
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